Bill Summary for S 460 (2011-2012)

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Summary date: 

Mar 29 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 460 (Public) Filed Tuesday, March 29, 2011
TO PROVIDE THAT A NONPROFIT CORPORATION IS ELIGIBLE TO RECEIVE A STATE FUNDED GRANT ONLY IF IT MEETS CERTAIN CRITERIA.
Intro. by Brock.

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Bill summary

Identical to H 100, filed 2/15/11.

Enacts new GS 143C-6-24 requiring that a nonprofit entity must meet all of the following criteria to be eligible to receive state funds: (1) receive at least 35% of its funding from private sources; and (2) limit its administrative expenses to no more than 15% of the total budget or receipts for the nonprofit entity.
Provides that the Office of State Budget and Management may suspend disbursement of funds to a nonprofit entity that violates the eligibility requirements and may try to recover grant funds that have already been disbursed under GS 143C-6-23(f) (suspension and recovery of funds to grant recipients for noncompliance).
Requires a non-state entity that is a nonprofit corporation that receives a state grant to certify annually that it is in compliance with this section pursuant to GS 143C-6-23(d) (office of state budget rules must require uniform administration of state grants).
Makes a conforming change to GS 143C-6-23(d)(6).
Effective July 1, 2011, and applies to grants of state funds awarded on or after that date.